August 21, 2011: The most recent research conducted by PwC and HfS reported on a shift in the way organization runs their business. Now they are shifting from a global operating model to a more shared service and outsourcing mode of operation. The survey was conducted among 347 operations executives in global firms.
PwC and HfS is a research institute which provide audit, assurance and tax related advises to global companies. With the ultimate power of well skilled work force around 160000 people, the institution delivers tailored solutions for organizations to overcome various challenges.
The latest study of the research and consulting firm titled “The Evolution of Global Business Services: Enhancing the Benefits of Shared Services and Outsourcing”, was published recently. According to the report, organizations are now planning to rely more on shared services or outsourcing models so as to enhance their current functioning and achieve operational and cost efficiency.
The report talks about the satisfaction of organizations which receives from innovative solutions by outsourcing. It is believed that shared services will improve the function of the organization and deliver innovative solutions for the up lift of the firm. More over when departments start sharing their operations and service it will create a culture of open discussion and analysis. It will be easy for the organization to evaluate the root cause of the problem and come up with right decisions.
The shift towards shared services and outsourcing will enhance collaborative work and strategic development for the betterment of the firm. It will enhance the internal operation and make the organization confident enough to gradually rely on the benefits gained by sharing information across every function, even though it depends on the company to decide on which shared service hybrid model to choose.
It depends on the organization, which strategy they would like to adopt for enhancing global service. Better results for outsourcing and shared services depends upon the right people and right cultural values they posses.
The report gives a detailed explanation on the advantages for an organization adopting shared services and outsourcing. Shared service will enhance the business as it can deliver innovative solution for the proper functioning and achievement and long term and short term goals.